07 Jun 2019

Positioning and differentiating yourself as a financial advisor

Many financial advisors face the problem of being able to differentiate themselves from others. How are you able to convince your clients that you are the most suitable advisor for them? In this competitive industry, recognizing your own key attribute and strengths is crucial in building your pool of clients.

Create a professional profile to differentiate yourself

Nowadays, cold calling and roadshows may be unattractive in getting more appointments. 

By having your own professional profile, you will be able to get referrals much easily. Start creating your own profile at Synchestra, where you can get your current clients to help share your professional page’s link. It enables more people to know what you are offering and interested parties can contact you instead. 
Also, clients are always interested in knowing your values and beliefs in helping clients responsibly and honestly. Hence, getting testimonials from previous and current clients is an invaluable asset which can be showcased in your profile. It also helps you to differentiate yourself from other advisors.

Give a reason for potential clients to do a meet up with you

You can make use of the lead magnet tools to get prospects to meet up you. For example, Synchestra provides financial advisors and insurance agents with lead magnet tools, like the e-book written by PPP Academy

When reminding your prospects on the appointment, you can offer him a free copy of the e-book which contains updated news on how to distinguish between real investments and scams. This is a technique of reciprocation. As such, the prospect will likely reciprocate your kindness and give him another reason to meet up with you.

Hunting technique versus fishing technique

Hunting techniques, such as cold calling. By dialing randomly generated numbers often results in the other party ending the phone call. There are cons to cold calling such as:
1. Great trouble to generate the numbers and dialing each of them individually
2. Additional costs on the advisor’s phone bill
3. Singaporeans may end up hanging up the call on random numbers calling them.

Financial advisors should consider using the fishing technique. This refers to waiting for the customers (fishes) to approach you on their own accord instead. By having your profile online, people who are interested in what you offer are able to contact you through the details you provided. Hence, it will definitely save you time on cold calling and spend more time on having productive appointments with your clients.

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